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Power bills to drop, Xcel says

Energy costs continue to trend in consumers’ favor, and a predicted drop in the price of electricity is now part and parcel of the progression.

Xcel Energy on Thursday announced that Colorado customers can expect lower electricity bills in the coming months, estimating a decrease of approximately 14 percent for residential and small-business customers for the next quarter, as compared to bills issued by the company this quarter.

If the state regulatory agency approves the request by Xcel to lower costs over the next term, new reduced rates would kick in starting Oct. 1.

By Xcel’s estimates, typical residential customer bills would decrease to $61.18 a month, based on use of 625 kilowatt-hours, a decrease of $10.29 per month from the current cost of $71.47.